Circle's USYC has applied for Featured App status on Canton, with Digital Asset sponsoring the application published on August 27.
USYC is already live on Canton and serves financial institutions. The token represents an investment in a money-market fund that invests in U.S. Treasury bills and short-term lending backed by U.S. government securities.
The application proposes rewards for trading, using USYC as collateral, and issuing or redeeming it in exchange for USDC, Circle's U.S. dollar stablecoin.
Featured App status would make qualifying activity eligible for Canton Coin rewards.
